My thoughts: Recession of Greed

Recession of Greed

Well I'm not sure about you guys but I'm over all the headlines "World Recession ", "Swine flu" and "Fuel prices going up because it rained in the mid-east" and being Winter (it is here in NZ) So it doesn't help, but the real headline is "Recession ".
OK so I am lucky to be in a business that is relatively recession prof. but if you really think about it, greed has been the number one factor as far as the recession , and I feel we are all to blame for that, some of the hardest hit will be the young generation that live on credit and don't remember the crash of the 1980s (I was dam young but do my homework), and then the young families that over loaded their mortgage and put the family 4x4 on the mortgage also.

But quiet frankly I still hear the advice from my late father, don't over do it financially as things change.
But I also feel that some of the high rollers of the financial markets and the powers that be deserve to slip a few runs down the ladder and most only have themselves to blame, and they had several years knowledge that the bubble was about to burst but they kept on giving the money.
I was warned that things were going to tumble about 2 years ago, but not one Finance Company or Bank gave honest advice or moved to make changers.

Sadly for the low income families the worst hasn't happened yet, and hopefully may not get to that, but markets are still greed driven, a classic example is the over inflated housing market.
Yet the average person can't do business without the people that have betrayed/mislead them.
I.E. It's that real estate company selling the houses through mortgagee sale that sold them it in the first place knowing that they have helped create an over inflated market, and the banks also knew but have signed off the mortgages and so on.

But its not just the young being bitten, the almost ready to retire Mum and Dad's that have invested
in finance companies that lost them their life savings, and instead of retiring, they having to go back to work but the finance giant still get up each day in there million dollar homes and are still their golden-hand shakes for their poor performance.

If anything comes out of this recession , there needs to be rules and law changers that will hold these so called financial advisers and corporate giants more accountable for there actions otherwise more lives will be ruined in another 15 to 20 years.
The next stage of the rescission, that's right its not over yet, will be inflation and or deflation of world markets. most will run to Gold/Sliver and stay clear of investing money for money, but then again I'm not a financial adviser so what would I know.

Back with ya's soon.